Riptides Funding News- Hungary-based Riptides Raises $3.3M In Pre-Seed Round

This is one of the largest pre-seed funding rounds ever in Central and Eastern Europe—and the biggest one in Hungary so far.

The round was led by PortfoLion Capital Partners (Hungary) and Kaya VC (Czech Republic), with extra support from the founders own fund, Cloudbreak, which added $500K. Several Hungarian and international angel investors also joined the round. The funding will go toward building the product, running security research, and forming early design partnerships.

Riptides is already working with businesses and AI-driven companies that want to move past outdated systems for managing secrets like API keys and passwords.

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Today, there are 50 times more machine identities than human users in enterprise systems, but they’re much less protected. As machines and software increasingly talk to each other without human involvement, old tools that rely on fixed credentials are becoming a security risk.

One example is a 2024 breach at the U.S. Department of the Treasury, where hackers exploited a machine token to gain access—highlighting the danger of unprotected machine identities.

Riptides solves this problem by getting rid of manually managed secrets. Instead of using API keys or passwords, it gives machines secure, cryptographically verified identities that are automatically issued and updated. This allows systems to safely talk to each other, manage access, and keep connections secure—without using outdated methods.

Márton Sereg, co-founder and CEO of Riptides, shared:

“By adopting unified, cryptographic identities for workloads and agents, we can secure communications across AI agents, data center services, and third-party integrations in a consistent, and transparent way. This approach paves the way for true zero-trust connectivity at scale.

Riptides is building the infrastructure that makes this possible. Because in a world where machines talk to machines, identity is everything.”

According to Daniel Kiss-Kiraly, VC at PortfoLion Capital Partners:

“When we learned that Márton, Zsolt, Nándor, and János were leaving Cisco to build something new, we immediately knew they were the team we wanted to partner with again after our joint success at Banzai Cloud.

Companies spend billions of dollars annually on identity and access management solutions, yet these lack proper functionality to manage thousands of non-human identities that are often over-privileged and forgotten.

We are excited to back the Riptides team as they build the new standard in NHI management for the age of agentic workflows—an era where non-human interactions are set to explode.”

Karel Zheng, investor at KAYA VC shared:

"Non-human identities now outnumber human logins by orders of magnitude, yet they remain the weakest link in cloud and AI stacks. Riptides hard‑wires into the kernel, giving enterprises a tamper‑proof, zero‑friction way to secure every service‑to‑service call.”

About Riptides

Riptides is a security startup founded in 2025 that focuses on protecting machine identities. These identities, which belong to software and devices rather than people, are the most at risk in business systems. There are far more of them than human users, and old security tools aren’t enough to keep them safe anymore.